BATU PAHAT, Nov 6 — A senior citizen has lost RM299,373.40 after falling victim to a fraudulent cryptocurrency investment advertised on Facebook.

Batu Pahat district police chief ACP Ismail Dollah said the incident involving the 62-year-old woman started in April when she dealt with a man who managed the website.

Besides Facebook, the pensioner also used the WhatsApp application to join the investment scheme under a company called Syarikat Bitcoin Yoamax.

"The victim deposited RM35,320 through seven transactions in stages. She also shared her personal details such as name, identity card number and banking information in addition to downloading the Yoamax application for investment purposes,” he said in a statement today.

He said the victim was later contacted by an individual claiming that she had earned a profit from the initial investment but was asked to deposit RM164,417 if she wanted to withdraw the money.

Ismail said the suspect also told the victim that the money would be returned if she was not involved in money laundering activities.

"The transactions didn’t stop there as the victim was also required to deposit an additional amount of RM99,636 for foreign currency exchange purposes.

"However, up to today, the victim has not received any payment or the profits as stated. She lodged a report at the Batu Pahat District Police Headquarters yesterday,” he said.

The case is being investigated under Section 420 of the Penal Code. — Bernama